Raymond James Financial Inc. purchased a new stake in shares of Cognex Co. (NASDAQ:CGNX - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,225,244 shares of the scientific and technical instruments company's stock, valued at approximately $79,797,000. Raymond James Financial Inc. owned about 1.30% of Cognex at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its position in shares of Cognex by 123.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 714 shares of the scientific and technical instruments company's stock valued at $29,000 after acquiring an additional 394 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in shares of Cognex during the 4th quarter valued at about $29,000. SRS Capital Advisors Inc. lifted its position in Cognex by 50.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 885 shares of the scientific and technical instruments company's stock worth $32,000 after buying an additional 295 shares during the last quarter. Truvestments Capital LLC bought a new stake in Cognex in the 3rd quarter worth approximately $36,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Cognex in the 3rd quarter worth approximately $40,000. Institutional investors own 88.12% of the company's stock.
Cognex Price Performance
CGNX stock traded down $1.16 during midday trading on Wednesday, hitting $31.01. The stock had a trading volume of 1,971,315 shares, compared to its average volume of 1,514,481. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 50.84 and a beta of 1.43. The business has a 50-day moving average of $36.38 and a two-hundred day moving average of $38.16. Cognex Co. has a 52-week low of $30.97 and a 52-week high of $53.13.
Cognex (NASDAQ:CGNX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The scientific and technical instruments company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). Cognex had a return on equity of 5.65% and a net margin of 11.61%. Research analysts predict that Cognex Co. will post 0.61 earnings per share for the current year.
Cognex Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be paid a $0.08 dividend. The ex-dividend date is Thursday, February 27th. This represents a $0.32 annualized dividend and a yield of 1.03%. Cognex's payout ratio is 52.46%.
Insider Buying and Selling
In other Cognex news, EVP Carl Gerst sold 6,803 shares of the business's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $32.73, for a total value of $222,662.19. Following the sale, the executive vice president now directly owns 4,566 shares of the company's stock, valued at approximately $149,445.18. The trade was a 59.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Joerg Kuechen sold 2,934 shares of the business's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $37.75, for a total value of $110,758.50. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
CGNX has been the topic of a number of analyst reports. Needham & Company LLC decreased their price target on Cognex from $47.00 to $41.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. HSBC cut Cognex from a "buy" rating to a "hold" rating and set a $33.00 price target on the stock. in a research note on Friday, February 21st. Cantor Fitzgerald raised Cognex to a "strong-buy" rating in a research note on Friday, December 20th. Robert W. Baird decreased their price target on Cognex from $42.00 to $38.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 18th. Finally, Stephens reaffirmed an "overweight" rating and issued a $55.00 price target on shares of Cognex in a research note on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Cognex presently has an average rating of "Hold" and a consensus target price of $44.83.
View Our Latest Research Report on Cognex
About Cognex
(
Free Report)
Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.
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